Can someone legally lost land for sale before they have paid off the land contract?
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Can someone legally lost land for sale before they have paid off the land contract?
I was wondering if someone who is buying land
with a contract for deed, if they can legally list
land for sale without the sellers approval and
before they have paid off the contract? Very
very urgent. Thank you
Asked on May 16, 2019 under Real Estate Law, Arkansas
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
They may list the property for sale but they cannot actually sell it before they first finish paying for the land themselves. it must be vested in their name (i.e. their name is on the title) before they can legally sell it.
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
Yes, they may list or advertise it for sale, but obviously cannot actually sell it or close on any sale before they have finished purchasing the land and it is titled in their name. But there is nothing wrong about marketing it ahead of time, or even entering into an agreement under which someone will buy it from them in the future, after they own it.
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